Shareholders Foundation, Inc.

An investigation on behalf of investors of ESB Financial Corporation (NASDAQ:ESBF) in connection with the proposed takeover was announced and NASDAQ:ESBF stockholders should contact the Shareholders Foundation.

San Diego, CA -- (SBWIRE) -- 11/05/2014 -- An investigation on behalf of investors, who currently hold shares of ESB Financial Corporation (NASDAQ:ESBF), was announced concerning whether the takeover of ESB Financial by WesBanco, Inc for a value of approximately $17.65 per share is unfair to NASDAQ:ESBF stockholders.

Investors who purchased shares of ESB Financial Corporation (NASDAQ:ESBF) and currently hold any of those NASDAQ:ESBF shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call +1(858) 779 - 1554.

The investigation by a law firm concerns whether certain officers and directors of ESB Financial Corporation breached their fiduciary duties owed to NASDAQ:ESBF investors in connection with the proposed acquisition.

On October 29, 2014, WesBanco, Inc. (Nasdaq:WSBC) and ESB Financial Corporation (NASDAQ:ESBF) jointly announced that they have executed an agreement and plan of merger providing for the merger of ESB Financial Corporation (NASDAQ:ESBF) with and into WesBanco, Inc.
Under the terms of the Agreement and Plan of Merger WesBanco will exchange a combination of its common stock and cash for ESB Financial Corporation (NASDAQ:ESBF) common stock. ESB Financial Corporation (NASDAQ:ESBF) shareholders will receive 0.502 shares of WesBanco, Inc common stock and cash in the amount of $1.76 per share for each share of ESB Financial Corporation (NASDAQ:ESBF) common stock for a total value of approximately $17.65 per share or $324.4 million in aggregate. The exchange ratio is based on the average closing price of WesBanco common stock of $31.66 over the 15 day period ending on October 27, 2014.

However, given that following the takeover announcement shares of ESB Financial Corporation (NASDAQ:ESBF) rose in the open market on October 31, 2014 to as high as $18.74 per share, the investigation concerns whether the offer is unfair to NASDAQ:ESBF stockholders.

In addition, given that all of the directors and named executive officers of ESB have already entered into voting agreements with WesBanco pursuant to which they have agreed to vote their shares in favor of the transaction, the investigation concerns whether the ESB Financial Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.

ESB Financial Corporation reported that its annual Net Income rose from $14.23 million in 2010 to $15.34 million in 2013.

Shares of ESB Financial Corporation (NASDAQ:ESBF) closed on November 3, 2014, at $18.63 per share.

Those who are current investors in ESB Financial Corporation (NASDAQ:ESBF) shares have certain options and should contact the Shareholders Foundation.